NEW YORK, NY / ACCESSWIRE / November 7, 2019/ Kadmon Holdings, Inc. (NYSE:KDMN) today announced a strategic partnership with BioNova Pharmaceuticals Ltd. (BioNova) to form a joint venture to exclusively develop and commercialize KD025 for the treatment of graft-versus-host disease (GVHD) in the People's Republic of China.

KD025, Kadmon's lead product candidate, is a ROCK2 inhibitor in a pivotal clinical trial in the United States for the treatment of chronic graft-versus-host disease (cGVHD). In October 2018, the U.S. Food and Drug Administration granted Breakthrough Therapy Designation to KD025 for the treatment of cGVHD after two or more lines of systemic therapy.

The joint venture, BK Pharmaceuticals Limited, is domiciled in Hong Kong with shared oversight between Kadmon and BioNova.

'While bone marrow transplant remains a desirable treatment option for patients with certain hematologic malignancies, GVHD presents a major post-transplant complication and can compromise long-term outcomes. This collaboration offers a unique opportunity to develop a novel therapeutic agent for the Chinese market for this serious unmet medical need,' said Ye Hua, M.D., MPH, Founder and CEO of BioNova. 'We intend to work to fast track development and regulatory approval of KD025 in China and look forward to advancing this partnership with Kadmon.'

'We are pleased to have the opportunity to partner with an experienced management team with a strong track record of successful drug development in China,' said Harlan W. Waksal, M.D., President and CEO of Kadmon. 'We believe this joint venture will accelerate development of KD025 for GVHD patients in need in China.'

Under the terms of the transaction agreements, Kadmon will receive an upfront payment as well as potential development, regulatory and commercial milestone payments that in the aggregate could total up to US $45 million. In addition, Kadmon is eligible to receive double-digit percentage royalty payments on sales of KD025 for GVHD in China.

About Kadmon

Kadmon is a biopharmaceutical company developing innovative products for significant unmet medical needs. Our product pipeline is focused on inflammatory and fibrotic diseases as well as immuno-oncology.

About BioNova

BioNova Pharmaceuticals Ltd. is a biopharmaceutical company dedicated to the development and commercialization of innovative medicines for the treatment of diseases with high unmet medical needs. BioNova focuses on building a robust pipeline through internal R&D programs, collaborations with global partners, and selective license and acquisitions. With a highly capable research and development team, efficient operating model, and substantial funding, BioNova is committed to delivering high quality innovative medicines to the patients in China and globally.

Forward Looking Statements

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